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GST on Rent
Property is rented to a bank and rent is 11 lake per year. GST is applicable on this?
Replies (5)
Yes you have rented for commercial purpose then it will be taxed at the rate of 12%,if your turnover is above 20 lacs including your rental income and other incomes from other businesses.
GST not applicable for landlord in your case as threshold limit is 20 lakhs.
I have no other income then?
If youndont have other income then you are not eligible under GST TO pay tax.
But bank should have to deposit the gst undsr the rcm. If you are not registered
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